1. When California Secure Choice conducted research for their feasibility study, they found that if people have to check a box to participate, only 15-20% will opt in, but if you say you're in it unless you opt out, 80% will stay in the program.

2. The coming years will be the fight to preserve the idea of retiring with dignity, for everyone, in the U.S.

3. Having the right managers is the key to high returns in venture capital markets. As is building a high-quality, concentrated portfolio of Venture managers; keeping a long-term investment horizon; managing consistent exposure across time (and cycle).